At today's
auction soy quotes again showed an increase. Higher prices for oil crops due to
the high demand for U.S. supplies in anticipation of the USDA February report publication.
In the latest forecast balance, which will be released today, analysts may
report lower soybean stocks in the United States to 9-year lower.
see related posts:
- U.S. Soybean exports remained the same - 522 thousand tons
- CJ Cheiljedang Corp. purchased 110 tons of Brazilian soybeans
- Rotterdam Soybean export Prices -2013 Feb 07
Contracts
for March delivery rose in price by 0.5% to 14.94 dollars per bushel (27.2 kg)
on Chicago Mercantile Exchange CBOT.
Export crop
sales for season 2012-13 rose by more than 2-fold, to 896 166 tons in the week
ended Jan. 31, compared with the previous period. In addition, 771,040 tons
were sold for delivery in the next MY, which will begin on September 1. The
country was the world's largest producer and exporter of oilseeds in the past
year, said informer "tradekeynews."
Stocks of
soybeans in the U.S. may drop to 3.5 million tons by August 31 of this year,
before the next crop harvest. This is less than 3.6 million tons; USDA
predicted this a month earlier.
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